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Roadzen, Inc. Bolsters U.S. Presence with Completion of National Automobile Club Acquisition
Roadzen, Inc. completes the acquisition of National Automobile Club in a move that strengthens the company's presence in the U.S. and positions it to
About this update from Roadzen, Inc.
[{"type":"text","content":"Roadzen, Inc. completes the acquisition of National Automobile Club in a move that strengthens the company's presence in the U.S. and positions it to revolutionize the commercial auto insurance market.The acquisition of NAC enables Roadzen to offer NAC’s customers an end-to-end, automated claims and roadside assistance experience by integrating its cutting-edge AI solutions.Acquisition fulfills a closing condition for Roadzen’s proposed business combination with Vahanna Tech Edge Acquisition I Corp., and brings the company closer to its vision of becoming a global leader at the intersection of AI, mobility and insurance. NEW YORK, July 06, 2023 (GLOBE NEWSWIRE) -- Roadzen, Inc. (“Roadzen” or the “Company”), a global insurance technology company, today announced completion of its acquisition of National Automobile Club (“National Automobile Club” or “NAC”), one of the oldest commercial auto clubs in the U.S., in a move that will bolster Roadzen’s U.S. presence and help the Company transform the massive commercial auto insurance market in the U.S. NAC is a licensed auto club in California and a provider of claims management and 24/7 commercial roadside assistance in the U.S. NAC is focused on the commercial automotive industry and its nationwide network of professional service providers provides roadside, transport and first notice of loss (“FNOL”) services. NAC is headquartered in Burlingame, California. “Roadzen views the acquisition of NAC to be the cornerstone of its strategy to penetrate the U.S. market, the largest auto insurance market in the world,” said Rohan Malhotra, Chief Executive Officer and Founder of Roadzen. “We are integrating our state of the art AI products for FNOL, vehicle inspection, dispatch and claims management at NAC to offer customers an end-to-end automated claims and roadside experience.” Shanon Duthie, CEO of NAC, said, \"We are thrilled to join forces with Roadzen and kickstart a new phase for NAC. By harnessing Roadzen's AI capabilities, we are confident in our ability to revolutionize the customer experience, streamline our operations, and solidify our position as an industry leader in providing top-notch claims and roadside assistance services.\" Saurav Adhikari, Chairman of Vahanna Tech Edge Acquisition I Corp. (“Vahanna”) (Nasdaq: VHNA), said, \"The completion of the National Automobile Club ac...